*Calculations assume 52 weeks per year and the specified hours worked per week.
function calculateIncomeRates() {
var amountInput = document.getElementById("incomeAmountInput").value;
var frequency = document.getElementById("incomeFrequencySelect").value;
var hoursInput = document.getElementById("hoursPerWeekInput").value;
var resultDiv = document.getElementById("incomeResult");
var amount = parseFloat(amountInput);
var hoursPerWeek = parseFloat(hoursInput);
if (isNaN(amount) || amount < 0 || isNaN(hoursPerWeek) || hoursPerWeek <= 0) {
alert("Please enter valid positive numbers for income amount and hours per week.");
resultDiv.style.display = "none";
return;
}
var annualBase = 0;
// Normalize input to Annual Base Income first
// Assumptions: 52 weeks/year.
switch (frequency) {
case 'hourly':
annualBase = amount * hoursPerWeek * 52;
break;
case 'daily':
// Assuming a standard 5-day work week for daily input
annualBase = amount * 5 * 52;
break;
case 'weekly':
annualBase = amount * 52;
break;
case 'biweekly':
annualBase = amount * 26;
break;
case 'monthly':
annualBase = amount * 12;
break;
case 'annually':
annualBase = amount;
break;
}
// Calculate all equivalents from Annual Base
var annual = annualBase;
var monthly = annualBase / 12;
var weekly = annualBase / 52;
var biweekly = annualBase / 26;
// Daily average based on 5 days per week * 52 weeks = 260 working days
var daily = annualBase / 260;
var hourly = annualBase / (hoursPerWeek * 52);
// Format utility function
var formatCurrency = function(num) {
return "$" + num.toFixed(2).replace(/\d(?=(\d{3})+\.)/g, '$&,');
};
document.getElementById("resultHourly").innerHTML = formatCurrency(hourly);
document.getElementById("resultDaily").innerHTML = formatCurrency(daily);
document.getElementById("resultWeekly").innerHTML = formatCurrency(weekly);
document.getElementById("resultBiWeekly").innerHTML = formatCurrency(biweekly);
document.getElementById("resultMonthly").innerHTML = formatCurrency(monthly);
document.getElementById("resultAnnually").innerHTML = formatCurrency(annual);
resultDiv.style.display = "block";
}
Understanding Income Rate Conversions
Whether you are comparing a salary offer to an hourly contract, trying to budget your monthly expenses based on bi-weekly paychecks, or negotiating a raise, understanding how your income translates across different timeframes is crucial. This Income Rate Calculator helps you instantly convert wages between hourly, daily, weekly, bi-weekly, monthly, and annual figures.
It is important to note that these calculations rely on standardizing assumptions to provide accurate comparisons. The most common baseline assumptions used in financial planning and HR are a 52-week year and a standard workweek (often 40 hours, though this calculator allows you to customize your specific hours).
How the Calculation Works
To ensure accuracy across all timeframes, this calculator first normalizes your input into an "Annual Base Income" and then divides that base by the appropriate factors. The core variable that affects hourly rates vs. salaried periods is the Hours Worked Per Week.
Here are the standard formulas used:
Weekly Rate: Hourly Rate × Hours Per Week
Annual Rate: Weekly Rate × 52 Weeks
Monthly Rate (Average): Annual Rate / 12 Months
Bi-Weekly Rate: Annual Rate / 26 Pay Periods
Realistic Examples
Example 1: Hourly to Salary
If you are offered a job paying $28.50 per hour and you expect to work a standard 40-hour week, what is the equivalent annual salary?
Weekly: $28.50 × 40 = $1,140.00
Annual: $1,140.00 × 52 = $59,280.00
Example 2: Salary to Hourly
If you have an annual salary of $75,000 and work 45 hours per week, what is your effective hourly rate?